http://www.thesunsfinancialdiary.com/personal-finance/discover-current-prepaid-card-5-promotion/ Fri, 03 Feb 2012 17:42:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.thesunsfinancialdiary.com/personal-finance/discover-current-prepaid-card-5-promotion/#comment-60653 Savingeverything Sun, 26 Jul 2009 14:06:02 +0000 http://www.thesunsfinancialdiary.com/?p=4124#comment-60653 Any way to make money off of this? If i use a creditcard, how will the transaction be coded? If it's a purchase, then why not use your highest cashback rewards credit card to buy the Discover Current Prepaid card, with an amount just right for your child to charge as you want her to spend in a month. Use the promo; and repeat after she spent it. She dont have credit card; so you benefit with cashback rewards on whatever she spends with her friends at the mall and stuff. Discover is happy because everywhere she swipes the prepaid card, Discover gets whatever Discover charges merchants (~1.25-2%); plus Discover may get a $5 per month from you if you go beyond the 30 day period. Sounds like Discover wants to get into the Prepaid Card business. Very similar to others, that have all sorts of fees, like netspend, visionprepaid, acecashexpress, accountnow, greendot, visa corp's vuxx, payjrbuxx, micash, achievecard, etc. Most cards that joined the greendot reload allow you to pay $4.95 for MoneyPack universal reload +amount, available at most stores. Any way to make money off of this? If i use a creditcard, how will the transaction be coded? If it’s a purchase, then why not use your highest cashback rewards credit card to buy the Discover Current Prepaid card, with an amount just right for your child to charge as you want her to spend in a month. Use the promo; and repeat after she spent it. She dont have credit card; so you benefit with cashback rewards on whatever she spends with her friends at the mall and stuff. Discover is happy because everywhere she swipes the prepaid card, Discover gets whatever Discover charges merchants (~1.25-2%); plus Discover may get a $5 per month from you if you go beyond the 30 day period. Sounds like Discover wants to get into the Prepaid Card business. Very similar to others, that have all sorts of fees, like netspend, visionprepaid, acecashexpress, accountnow, greendot, visa corp’s vuxx, payjrbuxx, micash, achievecard, etc. Most cards that joined the greendot reload allow you to pay $4.95 for MoneyPack universal reload +amount, available at most stores.

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